Titan Expects Tire Sales Throughout the US Mining Industry to Improve Despite a Sales and Earnings Decline

Titan Tires has offered high-quality tires and wheels for the agriculture, forestry, construction and mining industries for years. In addition to site visits to consult decision-makers on the best product choices; Titan offers servicing for its line of products for extended periods after purchase. Changes in the agriculture industry have prompted Titan to focus more of its business efforts on the mining and construction sectors, as it expects agriculture industry sales to stay consistent or drop in the years ahead.

According to recent reports, Titan tires experienced significant drops in both sales and earnings in the quarter that ended on March 31, 2015; because there was more demand for a type of higher horsepower agricultural equipment, that Titan doesn't currently produce tires for. It's large agricultural sales were down 35% and Titan doesn't expect those sales to improve anytime soon.

Overall, company earnings fell 21.6% and sales fell 25.4%. However, Titan executives expect customer demand for new Titan products in other industries to improve sales and earnings throughout the remainder of the year and in coming years. Titan also experienced lower high margin tire sales as well.

In addition, Titan attributed part of the quarterly loss to Euro, Ruble, and Australian dollar currency weakness against a strengthening US dollar.

Titan's pre-tax operating income, however, was higher than expected, which is always good to see .

Positive Upcoming Changes that Affect the US Mining Industry

• Titan's mining business is expanding and the demand for its underground wheel and tire business is starting to grow.
• Titan is extending its Low Sidewall Technology, (LSW), line of products into the mining and construction industries; and is hoping for acceptance and an overall positive response.
• Titan is expecting improved sales in its ITM business. The ITM sector provides undercarriages for the mining, construction and earth moving industries.

Contact us to shop the entire line of Titan products. BuyBigTires.com sells the most in-demand mining tires at affordable prices.

The post Titan Expects Tire Sales Throughout the US Mining Industry to Improve Despite a Sales and Earnings Decline appeared first on BuyBigTires.com.